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    Centerway Dr Peoria, IL 61615

    Sponsored
    For Sale
    $2,198,038

    8.41 Acres, Development Ready

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 8.41-acre commercial land parcel presents a remarkable development opportunity in the thriving North Peoria/Dunlap area of Illinois. Ideally situated at the corner of Centerway Drive and Wilhelm Road, this flat, easily accessible site boasts high visibility and significant potential. The property's strategic location offers immediate proximity to a recently constructed shopping center, anchored by a Schnuck's grocery store. Other prominent businesses in the immediate vicinity include OSF On Call, CVS, Walgreens, and a variety of restaurants, ensuring high foot traffic and consumer density. The lot is conveniently accessed via a well-lit intersection, enhancing both safety and accessibility for potential businesses and customers. This prime location offers developers the chance to capitalize on the area's robust growth and strong retail presence. The asking price for this exceptional development opportunity is $2,198,038. The property is zoned for office and retail uses, making it suitable for a wide range of commercial developments. With its ideal location, ample space, and proximity to established businesses, this 8.41-acre parcel represents a compelling investment opportunity in a rapidly expanding market. The property is located in Peoria County, Illinois, with a Peoria, IL 61615 zip code.

    Property Features for 0 Centerway Dr

    General Information

    Property type
    Land
    Lot Size
    366,340 SF

    HighLights

    • 8.41‑acre level site
    • Office/retail zoning
    • Excellent new development opportunity
    • High‑visibility location at a signalized intersection
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6144838
    Latitude
    40.8161098

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    FAQs

    What type of property is this?
    Land - 8.41 Acres, Development Ready
    Where is this land located?
    The property is located at Centerway Dr Peoria, IL.
    What is the asking price?
    The asking price for this property is $2,198,038.
    What are key features of this property?
    This property features: 8.41-acre level site; Office/retail zoning; Excellent new development opportunity
    (309) 693-3000
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    Centerway Dr Peoria, IL 61615
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Centerway Dr Peoria, IL 61615
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